PPG Completes Acquisition of AkzoNobel North American Architectural Coatings BusinessApril 2nd, 2013 by DWM Magazine
PPG Industries has finalized the previously announced acquisition of the North American architectural coatings business of Akzo Nobel N.V., based in Amsterdam. The transaction is valued at $1.05 billion.
“We are pleased to have successfully completed this acquisition, the second-largest in our company’s history, as it further extends PPG’s architectural coatings business in the United States, Canada and the Caribbean, and continues the accelerated pace of our business portfolio transformation,” says Charles E. Bunch, PPG chairman and CEO. “With this acquisition, PPG has expanded its reach in all three major North American distribution channels, including home centers, independent paint dealers and company-owned paint stores.”